Dominion Paints sees funds injection to meet growing demand
EQUITY investor, Quick Angels Limited, has supported an indigenous paint manufacturing company to raise its daily production capacity by a dozen times to help meet demand and industrialise the economy.
The company, Dominion Paints Manufacturing Industries Limited (DOPAMIL), was producing 2,000 litres of the Agatex brand of paint per day upon demand but raised it to 40,000 litres in a day after the equity investors injected funds into the business about two years ago.
The company now employs about 48 people in its head office at Tsawoenu in the Ho West District in the Volta Region, with plans to expand production and jobs.
The Agatex brand of paint and its product line were officially introduced to the public on August 31 at Tsawoenu in Ho in spite of being on sale for some time.
The Managing Director of DOPAMIL, Mr Stephen Komla Adom, speaking at the launch said the company was poised to revolutionarise the paint business through innovation and competitive pricing.
He said through diligence and hard work, the company was able to secure a partnership with Quick Angels Limited, the indigenous equity financier, to revamp its business and set it up for success.
He said unlike before when DOPAMIL was only capable of producing about 2,000 litres of paint per day but on demand bases in a small wooden structure using locally fabricated machinery, its production headquarters was now equipped with modern equipment to be able to produce over 40,000 litres daily.
“DOMAPIL has taken advantage of the government policy of industrialising the nation. The enabling environment created has resulted in the production of high-quality paint and painting accessories comparable to any world first-class paint.”
“However, our products are competitively priced, comparable to any locally manufactured paint,” Mr Adom said.
Uniqueness
The MD said the company understood the Ghanaian market, lifestyle and the need for superior quality paint.
Consequently, he said the company worked tirelessly over the years to produce a range of paint and painting accessories that do not only meet international standards but also fitted within the price range of the Ghanaian market.
“Agatex Paint can boast of a wide range of colours, which gives off a clean and pristine finish no matter the surface. We are here today eager and excited to move forward into a new phase of our company,” he said.
He explained that the partnership with Mr Mikkie Osei Berko, popularly known as Master Richard, as a brand ambassador would help to push the brand to the next level.
He said DOPAMIL was convinced that the two sides shared a common vision and drive to position the Agatex range of paints as the premiere choice across Ghana and Africa.
“We recognise this alliance as a fruitful and progressive one, which will serve as an energising springboard for new ideas and greater success in the long run,” he said.
Mr Adom added that the company and its activities were compliant with legal requirements, having registered with regulatory bodies such as the Ghana Standards Authority (GSA) and the Environmental Protection Authority (EPA) as well as other trade facilitating authorities such as the Ghana Investment Promotion Centre (GIPC), the Ghana Export Promotion Authority (GEPA),the Ghana Enterprise Authority (GEA), formerly the National Board for Small-Scale Industries (NBSSI) and Association of Ghana Industries (AGI), among others.
Mr Mikkie Osei Berko, the brand ambassador for Agatex, expressed gratitude for the honour to come on board as the brand ambassador and help grow the brand to the next level.
